Australian energy companies, Santos and its project partner Beach Energy, have been provided with a A$15m grant from the Australian Government’s Carbon Capture Use and Storage Development Fund.
With an objective to reduce emissions in the natural gas sector, the grant is recognition of the significance of a large-scale carbon capture and storage (CCS) project in outback South Australia.
The A$210m Moomba CCS project will help the Fund reach its carbon reduction targets by safely and permanently storing 1.7 million tonnes of carbon dioxide (CO2) per year, with a capacity for up to 20 million tonnes annually across the Cooper Basin.
Hoping to create a network that will see large-scale abatement of greenhouse gas emissions, Santos Chief Executive Officer and Managing Director, Kevin Gallagher, said the project will also be one of the lowest-cost projects in the world at A$25-30 per tonnes.
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